Red Bull's other driver is 28-year-old Daniel Ricciardo, who has also been frequently linked in the past to Ferrari.

Both Verstappen and Ricciardo, also a race winner this season, already had contracts for 2018 but the focus will now be on the Australian's next move.

Verstappen's deal, effectively a one-year extension since his original contract was set to expire at the end of 2019, means that the top three teams are set to have their star drivers signed up for the next three years.

Ferrari have four-time world champion Sebastian Vettel under contract until 2020 while Lewis Hamilton is expected to agree a similar deal with Mercedes.

The triple world champion's current deal expires at the end of next year.

Verstappen, who made his Formula 1 debut with Red Bull-owned Toro Rosso at the age of 17 in 2015, said the Austrian energy drink company had always shown their faith in him.

"They have always backed me and my ambition and I know we share that ambition," he said.

"I'm very happy to commit further to Red Bull Racing and I'm looking forward to working together to enjoy more success in the years to come." - REUTERS